all you have to do is listen to fedex last night fred smith, the founder and ceo of fedex speaks justlarry kudlow he can speak to free trade global commerce is his business. it's larry's doppelganger. he doesn't minutes words saying quote i'm certain everybody listening to this call has an electronic device in your hand go to your google button and type in def, meaning definition, and put in the word tariffs, t-a-r-r-i-f-f. everybody at the table do it today. smith goes on the to say that the benefits of tax reform will be offset by new taxes from new tariffs. what about the need for a steel industry for national defense purposes holy cow smith is so scathing on this listen, if we have for national defense needs in particular aluminum or especially steel requirement we would suggest to fedex these be bought by the government the same way that we buy up 35 fighters or m 1 a 1 abrams tanks respectively, end goat that's a good idea but it's not practical. congress ain't going to authorize that smith goes on to say why he is a believer in free trade he says i would like to give you number

an ar-15 should only be in the hands of the military, from fred smith himself, a vietnam war hero inmarines. i mean, donald trump is looking at all these corporate leaders and going, my gosh, do i listen to wayne lapierre or do i listen to all these people who understand the bottom line better than anybody? >> well, you look at what happened yesterday and in contrast to donald trump's -- you hear constantly oh, he's going to fall in line with the nra and that was to me struck me as delusional because donald trump really never falls in line with anyone except himself and can go rogue at any moment and last week i spoke to a source who's close to the nra who said the same thing, that they expected that he could beat to his own drum and completely separate which is what we saw yesterday but then now this tweet you're seeing donald trump try to walk back that language. corporate america has been leading on this issue, in contrast to a government that's so broken and dysfunctional that they can't make the background check system work and they can't come up with a bill that ensures due pro

that's why fred smith of fedex thinks it's dumb to have tariffs on china he's the ceo it's right it that he cares. he has a fiduciary care. univer universities are pro free trade. wall street is pro free trade. anybody who's anybody believe that manufacturers should have the run of the joint and in return we can sell lots of our product now we have a president who's saying that's not how we operate anymore. what happens of course the stock market gets crushed because nearly everybody with money is freaking out and think this is is lunacy, at the same time, there are a lot of working people in the rust belt who might benefit from these policies, but they don't have the cash to take the other side of the trade, so the market falls, and that's what today's break down was about as long as the 1% brieelieves in three trade at any cost. that's why i've been warning you formonths about this, even though i agree with trump on this all right, lots more "mad money," i'm opening the phone lines to hear you, cramerica let me help you. and after today, a lot of people will be looking to rebuild portf

charles: breaking news, this is from fedex ceo fred smith on the company's earnings call. smith saying, quote, we're very thankful there are no serious injuries from the package that was detonated earlier here at fedex ground facility. fedex provided law enforcement extensive evidence from advanced technology security systems designed to protect our teammates, customers and the communities we serve. we'll be right back. it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. let your inner light loose with one a day women's. ♪ a complete multivitamin specially formulated with key nutrients plus vitamin d for bone hea

. >> with the aluminum workers he has challenged the elites like fred smith. that was more important too. >> and the dow as we speak down more than 300. i'm just taking a look at goldman sachs. we're talking about the financials there goldman down 1.5%. mike my oayo raises -- >> it is about volatility. >> 330 from 320. >> he is a bright fellow i think that is a good call. look, this session may not be a good one i will go home tonight, i will somewhere some home brewed and thinking about tomorrow's session. okay this session maybe is not so great. >> are you making your own >> yeah. but you can't just look at in and say you know what, it is game over because people will leave facebook which i don't think they are except to move over to myspace, yeah. and yes, tech can be bad maybe micron reports a good number it is a down day we have to get -- >> the problem is it hasn't been just a down day. it's dabeen down days >> carnival is up. you can still make money the thesis in the market changed. we had a president who rams through a very good for shareholders tax c

fred smith the chairman of fedex had a great line. if you know how hard it was, you would into it. i am very glad i did it. i learned to evaluate talent to build a business which ultimately led to greater success with a lot of failure mixed in. when i got knocked out of the white house, people said, oh my god, what a failure. that's not a failure. how about losing 40% of your fund in 1998? if you are an entrepreneur, you know how to be persistent and resilient. you know that about yourself. if you have it, you have to go for it. you have to live your life without fear. bob: i think we have a lot of questions. >> thank you for coming. my name is maria. my question is, you say we have to look at these politicians and accept that they are human. i just want your stance on when trump had the parkland discussion, he had it written in his notes to remind himself to say, i hear you. do you think he actually cares? anthony: this is a misnomer and how we characterize things. that was hope hicks handwriting. she was trying to help them out. you've got to think about this. you might not like

hand they are very worried about protectionism and tariffs which is interesting because, remember, fred smith is a republican he's conservative. but he does not want to see trade wars salesforce a little different story and buy mule soft. the first thing you say why didn't they buy it last year that's true. perhaps they should have but the point is they'll have enterprise resource software and that's where you want to be like i said, i always say that's a bull market somewhere i promise to find it right here for you on "mad money. i'm jim cramer and i will see you tomorrow. >> welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ who believes she has a new and improved version of a ubiquitous product. ♪ hi, sharks. my name is ivori tennelle, from irvine, california,

and capitalist fred smith on his reform efforts and his new book what school could be.o wash c-span's washington journal live at 7:00 a.m. eastern tuesday morning. join the discussion.

fred smith, founder, ceo and chairman also noting they expect sprong operating performance in each ofhe transportation segments in the fourth quarter lastly, we've got this beat top and bottom line but comes on the heels of what's been a pretty busy day where fedex is concerned. we had an explosion at a fedex facility where a device in a package detonated. that's an incident now under federal investigation. a second package was also intercepted. nbc news reporting that package is linked to the four explosions that have taken place earlier this month in the austin area. we're expecting updates on that. also, more color on this financial quarter and trade, tariffs, tax reform and, of course, peak season numbers when the conference call comes up at 5:00 p.m. eastern. back over to you. >> this company involved in every aspect thank you very much. morg morgan shares up 2% any mrblowout, first question, it comparable? >> a lot to sort through the stock gave you a chance to get in not at a crazy level. went from 225 to 257 a wild move. pulled back. now it looks like it might try too firm up.

go back to fred smith's speech they spent a fortune on a chinese hub. he is one of the big he is givegive biggest givers in the republican party. he is also a great man he ain't no fat cat. >> the dow is only two points away from correction territory >> yeah, the president doesn't watch us, he watches something else but remember when he was like saying the stock market was good what happened to that narrative? >> do you n you. >> you don't think we're retesting the february 9 lows? >> no. that was because of the vix. abo >> but if tech doesn't get its act together, it's not possible? >> no, dropbox could save us today because it will open up. i mean i have valuations -- >> you said it could be a micron market we'll talk about that on the other side too >> dropbox could open up double and people get excited again >> we'll step away for a moment. we'll come right back. still to come, dropbox making its public debut today after a stronger than expected pricing for its ipo. we'll bring you the opening trade there followed by a live interview with the ceo le

wall street journal" this morning particularly the gun% manufacturer smith & wesson in the paper is reporting: story also adds: fred meyer stores or kroger owns fred meyer sales say they will pan sales younger than anyone under 21. kroger saying that its decision came in response to this. clothing manufacturer l.l. bean sitting out a o trait saying: tuscaloosa, alabama, larry, hello underline for others. go ahead. >> caller: how you doing this morning, pedro? >> host: fine, thank you. >> caller: hello to c-span and begin taking my call. i like to annotate this. i know this one thing that you brought attention to a gun salesman. mark, you asked him how fast can a bullet travel and he answered rapidly but he never told you how far that bullet can travel. these semi automatic weapons are combat weapons and they have the maximum effective range of at least 350 yards, people, that the length of three football fields. just imagine you go to someone with a semi automatic weapon close up and shoot them in the head and that bullet can travel that far and they close up on you that is a serious damage people. they are shootin